Fenimore Asset Management Inc. boosted its stake in shares of Air Products and Chemicals Inc. (NYSE:APD) by 38.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,730 shares of the company’s stock after buying an additional 19,670 shares during the period. Fenimore Asset Management Inc.’s holdings in Air Products and Chemicals were worth $10,634,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Liberty Capital Management Inc. purchased a new stake in shares of Air Products and Chemicals during the third quarter valued at $100,000. Parkside Financial Bank & Trust raised its stake in shares of Air Products and Chemicals by 8.9% in the second quarter. Parkside Financial Bank & Trust now owns 793 shares of the company’s stock valued at $113,000 after buying an additional 65 shares in the last quarter. Cantab Capital Partners LLP purchased a new stake in shares of Air Products and Chemicals during the second quarter valued at $113,000. M&R Capital Management Inc. purchased a new stake in shares of Air Products and Chemicals during the second quarter valued at $149,000. Finally, Sii Investments Inc. WI purchased a new stake in shares of Air Products and Chemicals during the second quarter valued at $217,000. 88.50% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Shares of Air Products and Chemicals Inc. (NYSE:APD) opened at 132.81 on Thursday. The firm has a 50-day moving average price of $139.25 and a 200-day moving average price of $135.86. Air Products and Chemicals Inc. has a 52-week low of $106.05 and a 52-week high of $146.01. The firm has a market capitalization of $28.76 billion, a P/E ratio of 49.69 and a beta of 1.23.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Air Products and Chemicals had a net margin of 6.12% and a return on equity of 22.00%. The business earned $2.43 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Air Products and Chemicals Inc. will post $7.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 128.84%.

Several analysts recently weighed in on the company. Zacks Investment Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Citigroup Inc. reaffirmed a “hold” rating on shares of Air Products and Chemicals in a report on Sunday, July 17th. Jefferies Group reaffirmed a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Friday, July 29th. Atlantic Securities raised Air Products and Chemicals from an “underweight” rating to a “neutral” rating and upped their target price for the company from $125.00 to $135.00 in a report on Friday, September 30th. Finally, Seaport Global Securities raised Air Products and Chemicals from an “accumulate” rating to a “buy” rating and set a $165.00 target price for the company in a report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $151.43.

In other news, VP Guillermo Novo sold 7,997 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $149.58, for a total transaction of $1,196,191.26. Following the completion of the sale, the vice president now owns 23,590 shares of the company’s stock, valued at $3,528,592.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John D. Stanley sold 17,247 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $155.39, for a total transaction of $2,680,011.33. Following the sale, the senior vice president now directly owns 36,129 shares of the company’s stock, valued at approximately $5,614,085.31. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.

5 Day Chart for NYSE:APD

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